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It probably isn't cash in a bank account. Balance sheets typically list "cash and cash equivalents", which can include short-term investments of various sorts.

The WMF balance sheet for 2015-16[1] shows that they held $46.7 million in cash and cash equivalents. Long term investments are listed as $11 million.

Fun trivia from their Statement of Activities[2]: they spent more on processing donations ($3.6m) and conferences/travel ($2.3m) than on hosting costs ($2m).

[1] https://upload.wikimedia.org/wikipedia/foundation/4/43/Wikim...

[2] What a for-profit company might call Income Statement or Profit & Loss.




They also have a short term investments line in balance sheet too, separate from cash. Leads me to believe it's cash. Although you are correct many companies lump them together.


> They also have a short term investments line in balance sheet too, separate from cash. Leads me to believe it's cash.

I can see how you'd come to that view.

But there's no need to guess, here. These terms have legal meanings derived, in the USA, from the GAAP standards. "Cash and cash equivalents" doesn't mean "actually it's all cash because we also listed 'short term investments'".


It is cash. IIRC, there was a fuss a couple of years ago when it was found out that the WMF was losing money on that invested cash.


Is it still cash? I'd be surprised if they held 40-odd million in a plain deposit account. It's not as though they need that much working capital.




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